GSC Project Manager Practice Questions - CCA Gold Seal Certified Project Manager Exam - GSC Project Manager Practice Questions - CCA Gold Seal Certified Project Manager Exam

Question 1

Under provincial builders' lien legislation in Canada, what is the primary purpose of the statutory holdback?

To create a fund from which subcontractors and suppliers can claim a lien if they are unpaid, protecting the owner from double-payment. To penalize the general contractor for delays in reaching substantial performance. To finance the final punch-list and deficiency work at the end of the project. To pay for the cost of wrap-up liability insurance and performance bonding.

Correct Answer:

To create a fund from which subcontractors and suppliers can claim a lien if they are unpaid, protecting the owner from double-payment.

Question 2

What does 'overbilling' (billing in excess of costs and estimated earnings) represent on a contractor's balance sheet?

A current liability, representing deferred revenue for work not yet performed. A current asset, representing unbilled revenue earned on the project. A long-term liability, indicating project contingency. A direct addition to net profit for the current fiscal period.

Correct Answer:

A current liability, representing deferred revenue for work not yet performed.

Question 3

Under CCDC 2 (2020), what document must the Contractor submit to the Consultant at least 15 calendar days before the first application for payment?

A Schedule of Values, detailing the breakdown of the Contract Price. The first statutory declaration (CCDC 9A). The final list of subcontractors and their trade agreements. A detailed cash flow curve showing projected monthly billings.

Correct Answer:

A Schedule of Values, detailing the breakdown of the Contract Price.

Question 4

A project has a Budget at Completion (BAC) of $1,200,000. Currently, the Earned Value (EV) is $400,000, and the Actual Cost (AC) is $500,000. If the remaining work is expected to be performed at the budgeted rate, what is the Estimate at Completion (EAC)?

$$1,300,000 $$1,500,000 $$1,100,000 $$1,400,000

Correct Answer:

$$1,300,000

Question 5

If a project shows 'underbilling' (costs and estimated earnings in excess of billings), what is the most likely cause?

Unapproved change orders where work has been performed but cannot yet be billed. A front-loaded Schedule of Values that has been heavily billed. Delay in procuring major equipment that was budgeted early in the project. Subcontractors billing ahead of their actual physical progress.

Correct Answer:

Unapproved change orders where work has been performed but cannot yet be billed.

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About this Exam

Prepare with the GSC Project Manager Practice Questions - CCA Gold Seal Certified Project Manager Exam practice quiz. This question bank includes 100 questions covering project, ccdc, contractor, contract, and construction. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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GSC Project Manager Practice Questions - CCA Gold Seal Certified Project Manager Exam

This practice set contains 100 questions from the matching question bank and focuses on project, ccdc, contractor, contract, and construction. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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GSC Project Manager Practice Questions - CCA Gold Seal Certified Project Manager Exam

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